Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Warburg Pincus Said to Seek Dividend From Consolidated Precision

Warburg Pincus LLC is planning to extract a payout from Consolidated Precision Products Corp. with the use of debt, according to a person with knowledge of the transaction.

UBS AG is arranging $902 million of loans for the company, which will be used to pay a dividend to its private-equity owner Warburg and refinance a $185 million second-lien term loan, said the person, who asked not to be identified because the transaction is private.

Consolidated Precision, a maker of highly-engineered components for the aerospace and defense markets, borrowed $700 million in loans last year to help fund its purchase of Esco Corp.’s Turbine Technologies Group, according to data compiled by Bloomberg. Holders of the second-lien debt that was obtained under that deal will be repaid at 103 cents on the dollar, according to the person.

The financing will consist of a $537 million first-lien term loan maturing in 2019, a $240 million, 7 1/2-year second-lien loan and a $125 million revolving credit line due in 2017. The bank will host a meeting with lenders on Oct. 17, the person said.

Ed Trissel, a spokesman for Warburg Pincus, declined to comment on the dividend or financing.

Under a revolver, money can be borrowed again once it’s repaid; in a term loan, it can’t.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.